Caisse DE Depot ET Placement DU Quebec Grows Holdings in Pentair PLC (PNR)

Caisse DE Depot ET Placement DU Quebec grew its holdings in shares of Pentair PLC (NYSE:PNR) by 32.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 32,549 shares of the industrial products company’s stock after buying an additional 7,900 shares during the quarter. Caisse DE Depot ET Placement DU Quebec’s holdings in Pentair were worth $1,370,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in PNR. Wells Fargo & Company MN grew its stake in Pentair by 39.1% during the second quarter. Wells Fargo & Company MN now owns 3,619,549 shares of the industrial products company’s stock worth $152,309,000 after buying an additional 1,017,611 shares during the period. Parnassus Investments CA grew its stake in Pentair by 13.6% during the second quarter. Parnassus Investments CA now owns 7,973,507 shares of the industrial products company’s stock worth $335,525,000 after buying an additional 955,374 shares during the period. Sound Shore Management Inc. CT grew its stake in Pentair by 31.4% during the second quarter. Sound Shore Management Inc. CT now owns 2,942,681 shares of the industrial products company’s stock worth $123,828,000 after buying an additional 703,138 shares during the period. Canada Pension Plan Investment Board grew its stake in Pentair by 540.6% during the second quarter. Canada Pension Plan Investment Board now owns 631,716 shares of the industrial products company’s stock worth $26,583,000 after buying an additional 533,100 shares during the period. Finally, Great West Life Assurance Co. Can lifted its position in shares of Pentair by 246.1% during the second quarter. Great West Life Assurance Co. Can now owns 426,826 shares of the industrial products company’s stock worth $17,993,000 after purchasing an additional 303,517 shares in the last quarter. Institutional investors own 86.43% of the company’s stock.

A number of research analysts have recently commented on PNR shares. Zacks Investment Research cut shares of Pentair from a “hold” rating to a “sell” rating in a research report on Sunday, July 15th. Royal Bank of Canada reissued a “hold” rating and set a $48.00 target price on shares of Pentair in a research report on Friday, July 13th. KeyCorp reissued an “equal weight” rating on shares of Pentair in a research report on Thursday, May 31st. ValuEngine raised shares of Pentair from a “strong sell” rating to a “sell” rating in a research report on Tuesday, July 24th. Finally, TheStreet cut shares of Pentair from a “b” rating to a “c+” rating in a research report on Thursday, June 21st. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and four have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $57.43.

PNR opened at $44.07 on Friday. The firm has a market capitalization of $7.52 billion, a P/E ratio of 12.48, a P/E/G ratio of 1.86 and a beta of 1.36. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.89 and a current ratio of 1.40. Pentair PLC has a 12-month low of $41.00 and a 12-month high of $50.25.

Pentair (NYSE:PNR) last posted its quarterly earnings results on Wednesday, July 25th. The industrial products company reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.02. The firm had revenue of $780.60 million for the quarter, compared to analysts’ expectations of $786.63 million. Pentair had a net margin of 10.12% and a return on equity of 15.19%. The firm’s quarterly revenue was up 3.5% on a year-over-year basis. During the same period in the prior year, the company posted $1.00 earnings per share. equities research analysts anticipate that Pentair PLC will post 2.31 EPS for the current fiscal year.

In related news, SVP Ademir Sarcevic sold 1,042 shares of the company’s stock in a transaction on Monday, July 2nd. The shares were sold at an average price of $41.67, for a total value of $43,420.14. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Trian Fund Management, L.P. sold 1,700,000 shares of the company’s stock in a transaction on Monday, August 13th. The shares were sold at an average price of $42.15, for a total transaction of $71,655,000.00. Following the completion of the sale, the director now directly owns 2,862 shares in the company, valued at $120,633.30. The disclosure for this sale can be found here. Corporate insiders own 9.90% of the company’s stock.

Pentair Profile

Pentair plc provides various smart water solutions worldwide. It designs, manufactures, and services various products and solutions to meet filtration, separation, flow, and water management challenges. The company's products and services include water treatment equipment, including energy-efficient pumps, point-of-entry/point-of-use filtration products, valves, UV sanitization, and automation controls for residential and commercial applications, as well as engineered solutions in advanced filtration, desalination, water supply and disposal, process, and control for industrial and infrastructure applications.

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Institutional Ownership by Quarter for Pentair (NYSE:PNR)

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